Thursday, November 26, 2009

This Time, It's The Central Bank Of Sri Lanka

As the Wall Street Journal Online reports, Sri Lanka's bought 10 metric tons of gold from the IMF.

212 sold, 191.3 to go.

This report goes into why the purchase was made: "Sri Lanka's reserves had fallen to dangerously low levels as security forces pushed their final offensive against separatist Tamil Tiger rebels." As for the reason why the Sri Lankan bank picked gold, I'm sure you can guess at it.

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